Ampco-Pittsburgh's Union Electric Steel Corp. Will Raise Base Prices On All Forged And Cast Products That It And Its Subsidiaries Produce Globally; Effective Immediately On All New Orders; Material And Energy Surcharges Will Remain In Effect, Base Pricing Levels On All Forged And Cast Products By 6-8%.
Benzinga · 03/11 20:05
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Ampco-Pittsburgh Corporation (NYSE:AP) announced today that its wholly-owned subsidiary, Union Electric Steel Corporation ("Union Electric Steel"), will raise base prices on all forged and cast products that it and its subsidiaries produce globally. This increase is effective immediately on all new orders. Material and energy surcharges will remain in effect.
The price adjustments are driven by inflationary cost increases in labor, health care, mill supplies, and elements not included in the surcharge. Consequently, Union Electric Steel will increase its base pricing levels on all forged and cast products by 6-8%.
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